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Atricle Dump - The Sins of Lateral Marketing...
Have You Listened Today? re quickly becoming the one source your customers trust and confidently buy from. One whom they will promote by word-of-mouth to their friends, colleagues, and business partners.While certainly not a new concept, Audiobooks have evolved into a convenient and portable recreational and educational tool. And not only the media in which the audio books are played has changed but the narration has come full circle as well. These days an audiobook is professionally narrated, often with a full cast of actors each playing a part. Some audio books even include brilliantly orchestrated music to set the scenes. Sounds very dramatic, right? Well it is.Audiobooks can now be instantly downloaded via your Notify them about upcoming seminars or teleconferences that you conduct. Produce product demonstrations and tutorials on video for your website. Recommend your resources each time you communicate. And then create one or more luxury products or services in the four-, five- or six-figure range. This will position you as a Jedi Knight in your field of expertise. Using this single business model - you can make millions in your business by going deep, rather than lateral. Apparently, it's a model most small- to mid-sized business owners n The Business Model Must Be Innovative andFlexible I met a single mom at a writer's bootcamp. She regaled me with stories about writing books on frugal cooking, life inside a cult, a mystery novel, and romance novels. They were all different markets so I suggested she select a single topic - and spin off intermediate and high-end products - before jumping into another market.What does the following list of companies have in common?A&P Hudson Motor Car Co. Montgomery Ward TWA Horn and Hardart Studebaker Indian Motorcycle Bonwit Teller Woolworth Bethlehem Steel Polaroid LTVThese Companies were successful, recognizable brands in their respective categories. They were publicly traded and a number were in the Nifty Fifty in the 1970’s and/or the Dow Jones Industrial Average. The element they all have in common (and with hundreds of The example I cited was Harry Potter. J.K. Rowling writes sequels and is raking in multi-millions of pounds in royalties from movies, DVDs, memorabilia, etc. The secret to her success is she returns to the Goose that Lays the Golden Egg. Which was the opposite direction my writer friend took... She was going lateral instead of deep. A costly mistake. She spread herself too thin. She wanted to launch too many business ideas without owning a successful single model. Because she's a writer, she wanted to write on various topics she was passionate about. Big mistake if she wanted to collect royalties and make a serious living. It will eventually become her achilles' heel. And that's because the marketplace can't decide what brand she brings to the table. It's more profitable and rewarding to position herself in one area of expertise. Something she'll be known for. What happened next? Her first paperback became a money pit. The e-zine she published went dysfunctional, and then revived—but is currently headed in ten different directions. Her website promoting her copywriting service was never completed. Her mail order pillow business went the way of the dodo bird. Google has threatened to cancel her Adwords account. And she still wants to write on five other topics. Do you notice a self-defeating pattern here? Since you're a top gun marketing student I know you won't make these same mistakes. You and I want the best for our business and we can learn what not to do from others. We don't have to repeat their mistakes... To make millions in your enterprise you should first start with an existing market that you want to reach. It's easier and cost-effective to work with a market that has proven it will pay for products and/or services. Next: start off with a low-cost/no cost introductory product. This may seem like you're losing money, but you'll soon make it up with other products in your pipeline. New customers cost the most to acquire. Capture these new customers and build a relationship with them. Then market mid-priced products to them. Continue building your relationship and capturing more customers. And then offer high-end products and continue developing your relationship. Better yet, offer all three product lines to them at the same time. People love choices—so create a bronze, silver, and gold package for your customers to select. Next: promote outside products or services through joint venture deals - where you can capture more clients. Continue edifying your relationship. You're quickly becoming the one source your customers trust and confidently buy from. One whom they will promote by word-of-mouth to their friends, colleagues, and business partners. Notify them about upcoming seminars or teleconferences that you conduct. Produce product demonstrations and tutorials on video for your website. Recommend your resources each time you communicate. And then create one or more luxury products or services in the four-, five- or six-figure range. This will position you as a Jedi Knight in your field of expertise. Using this single business model - you can make millions in your business by going deep, rather than lateral. Apparently, it's a model most small- to mid-sized business owners ne Lessons I Learned From A Ground Hog ed to launch too many business ideas without owning a successful single model.The lowly groundhog, often called a woodchuck, is the only mammal to have a day named in his honor. The groundhog's day is February 2. Granted, it’s not a federal holiday and nobody gets off work. However, we all know about it and most of us check the news to see if the groundhog has seen his shadow. Consider how many of you recognize the name Punxsutawney Phil. Amazing, isn’t it. That's brand recognition at its finest -- it’s not even for a human.Regardless of whether Punxsutawney Phil goes back into his burrow for Because she's a writer, she wanted to write on various topics she was passionate about. Big mistake if she wanted to collect royalties and make a serious living. It will eventually become her achilles' heel. And that's because the marketplace can't decide what brand she brings to the table. It's more profitable and rewarding to position herself in one area of expertise. Something she'll be known for. What happened next? Her first paperback became a money pit. The e-zine she published went dysfunctional, and then revived—but is currently headed in ten different directions. Her website promoting her copywriting service was never completed. Her mail order pillow business went the way of the dodo bird. Google has threatened to cancel her Adwords account. And she still wants to write on five other topics. Do you notice a self-defeating pattern here? Since you're a top gun marketing student I know you won't make these same mistakes. You and I want the best for our business and we can learn what not to do from others. We don't have to repeat their mistakes... To make millions in your enterprise you should first start with an existing market that you want to reach. It's easier and cost-effective to work with a market that has proven it will pay for products and/or services. Next: start off with a low-cost/no cost introductory product. This may seem like you're losing money, but you'll soon make it up with other products in your pipeline. New customers cost the most to acquire. Capture these new customers and build a relationship with them. Then market mid-priced products to them. Continue building your relationship and capturing more customers. And then offer high-end products and continue developing your relationship. Better yet, offer all three product lines to them at the same time. People love choices—so create a bronze, silver, and gold package for your customers to select. Next: promote outside products or services through joint venture deals - where you can capture more clients. Continue edifying your relationship. You're quickly becoming the one source your customers trust and confidently buy from. One whom they will promote by word-of-mouth to their friends, colleagues, and business partners. Notify them about upcoming seminars or teleconferences that you conduct. Produce product demonstrations and tutorials on video for your website. Recommend your resources each time you communicate. And then create one or more luxury products or services in the four-, five- or six-figure range. This will position you as a Jedi Knight in your field of expertise. Using this single business model - you can make millions in your business by going deep, rather than lateral. Apparently, it's a model most small- to mid-sized business owners n Home Machine Shops completed.A profession or hobby that uses a power-driven machine tool such as a lathe or drill to shape metal, is known as machining. The person specializing in its use is called a machinist. A machine shop that is run from home is called a home machine shop.Most machining operations are those that remove metal from an item or those that add metals. There are typical tools that are used in home machining. A lathe is a machine tool that creates sections in circles by rotating a metal work piece. A drill or punch press is used t Her mail order pillow business went the way of the dodo bird. Google has threatened to cancel her Adwords account. And she still wants to write on five other topics. Do you notice a self-defeating pattern here? Since you're a top gun marketing student I know you won't make these same mistakes. You and I want the best for our business and we can learn what not to do from others. We don't have to repeat their mistakes... To make millions in your enterprise you should first start with an existing market that you want to reach. It's easier and cost-effective to work with a market that has proven it will pay for products and/or services. Next: start off with a low-cost/no cost introductory product. This may seem like you're losing money, but you'll soon make it up with other products in your pipeline. New customers cost the most to acquire. Capture these new customers and build a relationship with them. Then market mid-priced products to them. Continue building your relationship and capturing more customers. And then offer high-end products and continue developing your relationship. Better yet, offer all three product lines to them at the same time. People love choices—so create a bronze, silver, and gold package for your customers to select. Next: promote outside products or services through joint venture deals - where you can capture more clients. Continue edifying your relationship. You're quickly becoming the one source your customers trust and confidently buy from. One whom they will promote by word-of-mouth to their friends, colleagues, and business partners. Notify them about upcoming seminars or teleconferences that you conduct. Produce product demonstrations and tutorials on video for your website. Recommend your resources each time you communicate. And then create one or more luxury products or services in the four-, five- or six-figure range. This will position you as a Jedi Knight in your field of expertise. Using this single business model - you can make millions in your business by going deep, rather than lateral. Apparently, it's a model most small- to mid-sized business owners n 10 Killer Ways To Jump Start Your Profits roduct. This may seem like you're losing money, but you'll soon make it up with other products in your pipeline. New customers cost the most to acquire. Capture these new customers and build a relationship with them.1. Offer to write exclusive articles (that means you only submit them to one place) for high traffic web sites in exchange for a link back to your site.2. Create a positive online image. Tell your visitors about fundraisers you have sponsored or that you donate a part of your profits to charity.3. Improve your customer service on a regular basis. Try out new technologies that make it easier to communicate with your customers over the net.4. Ask your customers what they would like to see offered Then market mid-priced products to them. Continue building your relationship and capturing more customers. And then offer high-end products and continue developing your relationship. Better yet, offer all three product lines to them at the same time. People love choices—so create a bronze, silver, and gold package for your customers to select. Next: promote outside products or services through joint venture deals - where you can capture more clients. Continue edifying your relationship. You're quickly becoming the one source your customers trust and confidently buy from. One whom they will promote by word-of-mouth to their friends, colleagues, and business partners. Notify them about upcoming seminars or teleconferences that you conduct. Produce product demonstrations and tutorials on video for your website. Recommend your resources each time you communicate. And then create one or more luxury products or services in the four-, five- or six-figure range. This will position you as a Jedi Knight in your field of expertise. Using this single business model - you can make millions in your business by going deep, rather than lateral. Apparently, it's a model most small- to mid-sized business owners n Can You Sell Your Business Without a Broker? re quickly becoming the one source your customers trust and confidently buy from. One whom they will promote by word-of-mouth to their friends, colleagues, and business partners.Yes, you can sell your business yourself, but you have to do it the right way! As a professional business intermediary, I have many clients with quality businesses who come to me after failing to sell their businesses on their own. The flaw in their effort to sell always comes down to the same four basic things: no professional presentation of the business; poorly presented financial information; pricing the business wrong; and not understanding how to find buyers, work with those buyers and get a deal to closing. If you wa Notify them about upcoming seminars or teleconferences that you conduct. Produce product demonstrations and tutorials on video for your website. Recommend your resources each time you communicate. And then create one or more luxury products or services in the four-, five- or six-figure range. This will position you as a Jedi Knight in your field of expertise. Using this single business model - you can make millions in your business by going deep, rather than lateral. Apparently, it's a model most small- to mid-sized business owners never attempt. If an author does well selling a $20 paperback, she decides to release more $20 paperbacks. Hoping the following books will do as well. In the meantime, her fans are dying to own or experience mid- and high-end products from their new favorite novelist. Whick never materializes. But this won't happen to you... Because you now realize the common mistake most small businesses make: Lateral Thinking. Find a niche market you are totally passionate about, create a database and provide services or products to them forever.
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